Zevia PBC’s (ZVIA) Market Perform Rating Reiterated at Telsey Advisory Group

Zevia PBC (NYSE:ZVIA)‘s stock had its “market perform” rating reiterated by Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They presently have a $4.00 target price on the stock. Telsey Advisory Group’s price target would suggest a potential downside of 1.23% from the stock’s current price.

Zevia PBC Stock Down 8.4 %

ZVIA stock opened at $4.05 on Tuesday. Zevia PBC has a twelve month low of $0.62 and a twelve month high of $4.78. The stock has a market capitalization of $295.71 million, a price-to-earnings ratio of -10.66 and a beta of 0.66. The firm’s fifty day simple moving average is $2.95 and its two-hundred day simple moving average is $1.68.

Zevia PBC (NYSE:ZVIA) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.07. Zevia PBC had a negative net margin of 14.02% and a negative return on equity of 38.02%. The company had revenue of $36.37 million for the quarter, compared to the consensus estimate of $38.53 million. During the same period in the prior year, the firm posted ($0.16) EPS. As a group, equities research analysts expect that Zevia PBC will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, Director Rosemary L. Ripley sold 2,567,006 shares of Zevia PBC stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $1.90, for a total transaction of $4,877,311.40. Following the completion of the sale, the director now owns 2,719,258 shares in the company, valued at $5,166,590.20. This trade represents a 48.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zevia PBC

Hedge funds have recently added to or reduced their stakes in the stock. ORG Wealth Partners LLC bought a new stake in shares of Zevia PBC during the fourth quarter valued at approximately $129,000. Nwam LLC bought a new stake in Zevia PBC during the 3rd quarter valued at $39,000. Renaissance Technologies LLC raised its position in Zevia PBC by 128.7% during the 2nd quarter. Renaissance Technologies LLC now owns 69,300 shares of the company’s stock valued at $47,000 after purchasing an additional 39,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Zevia PBC during the 2nd quarter worth $26,000. Finally, XTX Topco Ltd purchased a new position in shares of Zevia PBC during the third quarter valued at $50,000. 53.21% of the stock is currently owned by institutional investors.

About Zevia PBC

Zevia PBC, a beverage company, develops, markets, sells, and distributes various carbonated beverages in the United States and Canada. It offers soda, energy drinks, organic tea, and kidz drinks. The company offers its products through a network of food, drug, warehouse club, mass, natural, convenience, and e-commerce channels, as well as grocery distributors and natural product stores and specialty outlets.